Mixed Economy: Elements of the three different economic systems in one economy; the most common economic system Ex.) US Market-business competition, private.

Similar presentations

Presentation on theme: "Mixed Economy: Elements of the three different economic systems in one economy; the most common economic system Ex.) US Market-business competition, private."— Presentation transcript:

1
Mixed Economy: Elements of the three different economic systems in one economy; the most common economic system Ex.) US Market-business competition, private property, profit Command-government regulated agencies, schools, USPS Traditional-schools still follow an agricultural schedule

2
ADVANTAGESDISADVANTAGES FREEDOMSGOVERNMENT REGULATIONS BUY WHAT WE WANTLIMITED RESOURCES NO LIMITS TO WHAT YOU CAN HAVE TAXES WELFARE SYSTEMUNEQUAL DISTRIBUTION OF WEALTH

3
Two major trends in modern economies: 1. Many economies moving away from Command Systems and privatizing business. 2. Globalization by getting foreign investors.

8
List and explain the legal rights built into the free enterprise system. Open opportunity: everyone has the ability to enter the market Free contract: everyone has the right to decide which contracts they enter into Legal equality: everyone has the same economic rights

9
Explain the chain and effect reactions since the mid-1990s that led to the lower book prices for American consumers. Small book stores 1995 Borders and Barnes & Noble compete Pass along major savings Amazon Lower prices; access to everything More websites